Call and Put Option Sample Clauses
A Call and Put Option clause grants one or both parties the right to require the sale (put) or purchase (call) of an asset, typically shares or property, at a predetermined price within a specified timeframe. In practice, this means one party can compel the other to buy or sell the asset under agreed conditions, often triggered by certain events or at the discretion of the option holder. The core function of this clause is to provide flexibility and certainty in future transactions, allowing parties to manage exit strategies, investment risks, or changes in ownership structure.
Call and Put Option. 1. At any time during the Call/Put Option Period, Lessor shall have the option to purchase the Improvements by issuing a Call Notice at the relevant Call Option Price. Upon exercise of such option by Lessor. Lessee/Developer shall be obligated to sell to Lessor at the relevant Call Option Price, and such sale shall be subject to Lessor's confirmation that the Improvements are sale shall be subject to Lessor's confirmation that the Improvements are without any Encumbrance. Such purchase by Lessor of the Improvements shall be completed on the Settlement Date.
2. At any time during the Call/Put Option Period, Lessee/Developer shall have the option to sell the Improvements by issuing a Put Notice at the relevant Put Option Price. Upon exercise of such an option by Lessee/Developer, Lessor shall be shall be obligated to purchase the Improvements at the Put Option Price, and such purchase shall be subject to Lessor's confirmation that the Improvements are without any Encumbrance. Such purchase by Lessor of the Improvements at the Put Option Price shall be completed on the Settlement Date.
3. Lessee/Developer shall be bound, upon receipt of the Call Notice or issue of the Put Notice, as the case may be, to sell the Improvements at the applicable Option Price to Lessor and undertake all necessary action in the Settlement Period including, but not limited to, the execution of any and all documents and transfer documents required to complete such sale and transfer of the Improvements for consideration received at settlement.
4. Lessor shall be bound, upon issue of the Call Notice or receipt of Put Notice, as the case may be to purchase from the Lessee/Developer the Improvements at the applicable Option Price and make payment of the consideration at settlement.
5. Settlement shall take place on the Settlement Date at the office of Lessor.
6. All notices required or permitted by this Section 6.02 shall be made in accordance with Section 12.02.
Call and Put Option. The Partners acknowledge that the Interests of the Class A Limited Partners are subject to a Call and Put Option Agreement between UPREIT and the Class A Limited Partners dated as of the date of this Agreement (the "Option Agreement"). The restrictions on Transfers contained in Article 7 of this Agreement shall not apply to any Transfer of an Interest pursuant to the Option Agreement.
Call and Put Option. For the avoidance of doubt, the Capital Increase and this Agreement do not in any event affect or otherwise impact (i) the number of Put Option Shares and/or Call Option Shares to be sold or purchased pursuant to the Put Option in Clause 7B or the Call Option in Clause 7C of the Shareholders Agreement and (ii) the Put Option Price and/or the Call Option Price payable.
Call and Put Option. The Partners acknowledge that the Interests held by CLA and BCA GP are subject to the call and put option provisions of the Contribution Agreement (the “Option”). The restrictions on Transfers contained in Article 7 of this Agreement shall not apply to any Transfer of an Interest pursuant to the Option.
Call and Put Option